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Stock Market & Financial Investment News

News Breaks
July 25, 2014
11:29 EDTUA, NKE, SKX, DECKDeckers Outdoor climbs higher after Q1 results, increased FY outlook
Shares of footwear company Deckers Outdoor (DECK) are climbing higher after the company reported first quarter earnings per share and revenue that exceeded analysts' consensus along with an increased FY15 EPS and revenue outlook. WHAT'S NEW: Deckers said its Q1 loss per share was $1.07, which was better than analysts' consensus of a $1.28 per share loss. Revenue for the quarter was $211.5M, exceeding analysts' consensus estimates of $192.01M. The company's direct-to-consumer comparable sales were up 10% in Q1 and UGG brand net sales for the quarter were up 22.8% to $123.3M. Teva brand net sales in Q1 were up 25.7% to $39.3M and its Sanuk brand net sales were up 19.6% to $36M. Deckers' Q1 combined net sales of the company's other brands increased 54.5% to $12.9M. Sales for the global retail store business increased 29.4% to $42M. Looking ahead, Deckers now expects fiscal year 2015 EPS to increase approximately 14.5% from previous guidance of up 13.5% and expects FY15 revenues to increase about 14%, up from the previous guidance of 13%. The consensus estimate for EPS and revenue are $4.69 and $1.8B, respectively. Deckers now expects FY15 UGG brand revenues to increase approximately 12% over the prior year from the previous guidance of 11% and predicts FY15 Teva brand revenues will increase approximately 11% over the prior year. The company expects FY15 Sanuk brand revenues to increase approximately 15% compared to the prior year. Combined FY15 net sales of the company's other brands are expected to be approximately $82M. The company's guidance assumes a gross profit margin of approximately 49%, an operating margin of approximately 13%. and an effective tax rate of about 29%. WHAT'S NOTABLE: The company expects second quarter EPS of approximately 98c against analysts' estimates of $1.13 and sees revenues for the quarter up about 18% from the year ago period against estimates of $441.17M. ANALYST REACTION: Jefferies analyst Randal Konlk upgraded Deckers to Buy from Hold after the firm said it has more conviction of the company's margin expansion potential in FY15. The analyst believes that the company's market undervaluing the sequential upward potential at the moment from new product reveals could contribute an incremental $150M-$250M in revenue over the next 1-2 years. The firm increased its price target for Deckers to $130 from $78. ISI Group, which raised its price target on shares to $105 from $95, believes Deckers investments are beginning to drive more consistent sales results and driving it into a lifestyle brand. Citigroup also raised its price target on Deckers, to $105 from $94, following the better than anticipated Q1 results and guidance. PRICE ACTION: During late-morning trading, shares of Deckers were up $5.60 or 6.57%, to $90.84. OTHERS TO WATCH: Other running shoe makers include Nike (NKE), Under Armour (UA) and Skechers (SKX).
News For DECK;NKE;UA;SKX From The Last 14 Days
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April 21, 2015
07:05 EDTUAUnder Armour raises FY15 operating income growth view to 13%-15%
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07:04 EDTUAUnder Armour raises FY15 revenue view to $3.78B, consensus $3.82B
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07:03 EDTUAUnder Armour reports Q1 EPS 5c, consensus 5c
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April 20, 2015
15:37 EDTUANotable companies reporting before tomorrow's open
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14:52 EDTUAUnder Armour April weekly volatility elevated into Q1 and outlook
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08:21 EDTUAUnder Armour expected to report Q1 revenue upside, says BofA/Merrill
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April 17, 2015
09:48 EDTUAUnder Armour April weekly volatility elevated into Q1 and outlook
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08:06 EDTUAUnder Armour price target raised to $91 from $85 at Cowen
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07:34 EDTUAUnder Armour golf business accelerating after Spieth win, says Piper Jaffray
Piper Jaffray analyst Erinn Murphy says shore checks show Under Armour's golf business is seeing accelerating momentum since Jordan Spieth's Masters win last weekend. Murphy believes golf sales for Under Armour can double and reach more than $400M in the next few years. She raised her price target for shares to $93 from $90 and keeps an Overweight rating on the name ahead of the company's Q1 results on Tuesday. Deutsche Bank this morning also raised its price target for Under Armour shares to $93. The stock closed yesterday up $1.50 to $85.71.
07:20 EDTUAUnder Armour price target raised to $93 from $85 at Deutsche Bank
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07:04 EDTSKXSkechers May volatility elevated into Q1 and outlook
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April 15, 2015
11:28 EDTSKXSkechers May volatility elevated into Q1 and outlook
Skechers May option implied volatility is at 45, June is at 37, July is at 37; compared to its 26-week average of 39 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 20.
10:00 EDTDECKOn The Fly: Analyst Initiation Summary
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10:00 EDTNKEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Tower (AMT) upgraded to Outperform from Neutral at Macquarie... Ameriprise (AMP) upgraded at Morgan Stanley... Builders FirstSource (BLDR) upgraded to Buy from Neutral at Sterne Agee... China Telecom (CHA) upgraded to Outperform from Market Perform at Bernstein... China Unicom (CHU) upgraded to Outperform from Underperform at Bernstein... Discover (DFS) upgraded to Overweight from Neutral at JPMorgan... EV Energy (EVEP) upgraded on asset sale at RBC Capital... GoPro (GPRO) upgraded to Overweight from Neutral at Piper Jaffray... Intel (INTC) upgraded on valuation at RBC Capital... Nike (NKE) upgraded to Overweight from Neutral at Piper Jaffray... Nokia (NOK) upgraded to Market Perform from Underperform at Bernstein... Rice Energy (RICE) upgraded to Buy from Neutral at Goldman... Staples (SPLS) upgraded to Buy from Hold at BB&T... Team (TISI) upgraded to Buy from Hold at BB&T... Ulta Salon (ULTA) upgraded to Overweight from Neutral at Piper Jaffray.
07:28 EDTDECKDeckers Outdoor thesis remains 'very much intact,' says Jefferies
Jefferies says its thesis on Deckers Outdoor shares remains "very much intact" following news that Connie Rishwain plans to step down as President of UGG. The firm views the current multiple as compressed and sees a "compelling" risk/reward at current share levels. It reiterates a Buy rating on Deckers with a $110 price target.
07:26 EDTDECKDeckers Outdoor says President of UGG to step down
Deckers Brands announced last night that Connie Rishwain, President of UGG and Fashion and Lifestyle Brands has notified the company of her plans to step down in order to spend more time with her family and pursue other interests.
06:56 EDTDECKDeckers Outdoor initiated with a Neutral at Guggenheim
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April 14, 2015
16:25 EDTNKEPiper upgrades Nike to buy following survey of teens
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16:06 EDTNKENike upgraded to Overweight from Neutral at Piper Jaffray
08:21 EDTUAUnder Armour one of best growth stories in retail, says Canaccord
Canaccord called Under Armour one of the best growth stories in retail and said it expects solid Q1 results from the company on April 21. The firm sees a robust sales growth trajectory, led by footwear, international, and women's products. Canaccord reiterated its Buy rating and $97 price target on Under Armour shares.
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